NEW DELHI: In a rare move, govt has asked the board of IL&FS and two of its arms to recover excess money of Rs 150 crore, including managerial remuneration and commissions, from ex-directors after the entities restated their accounts to show losses of Rs 9,600 crore for financial years 2013 to 2018, instead of a … Read more
Elon Musk’s social media platform, X (formerly Twitter), has banned over 5 lakh accounts in India. Reuters has reported that these accounts were banned for violating several policies set by social media platforms and these accounts have been banned between January 26 and February 25. Total X accounts banned in FebruaryAccording to the report, the … Read more
EPFO limits Paytm transactions linked with EPF accounts: The Reserve Bank of India (RBI) instructed Paytm Payments Bank to halt all banking services, including deposit acceptance and payment processing, on January 31, with effect from February 29. Consequently, in response to this directive, the Employees’ Provident Fund Organisation (EPFO) has imposed limitations on deposit and … Read more
The Employees’ Provident Fund Organisation (EPFO) has notified a set of standard operating procedures (SOPs) to streamline the process of freezing and de-freezing individual or establishment accounts. The EPFO has introduced a time-bound process to freeze member IDs, universal account numbers, or establishments for verification purposes. This aims to boost the efficiency and security of … Read more
MUMBAI: Deposit rates have not increased as much as lending rates in the rate tightening cycle that began in May 2022, and is reflected in the improvement in net interest margins of banks during 2022-23, a paper published by RBI said. A key reason for lag is that most banks have not revised interest rates … Read more
MUMBAI: Monthly inflows into mutual fund schemes through the systematic investment plan (SIP) route scaled a new all-time high mark at just over Rs 15,800-crore in August as nearly 36 lakh new SIP accounts were opened during the month, also a new peak. As India’s fundamental factors gave enough comfort to investors about the strength … Read more